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Cash gift ensures Furness Factory staff end year on a high note

CHRISTMAS bonuses are a concept many may miss out on this year, as the recession refuses to relinquish its tight grip on the economy.

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But for the 150 workers at one Furness factory, success has been a big part of 2012 and their efforts have been rewarded in the form of a brand-new £50 note.

Wax Lyrical owner Mike Armstead has spearheaded huge success at the Lindal-based candle manufacturing business since he took over at the end of 2006, and to thank his workers he gave them each £50 as a Christmas bonus this year.

“Our success is down to the hard work of our workers and I wanted to give them a special Christmas bonus as a thank you,” he said.

Wax Lyrical was struggling under mounting debts of £14m and was losing £5.5m a year. But now, thanks to continued investment in staff and the company, Wax Lyrical is debt-free for the first time and Mr Armstead has just invested more than £1m in new systems and machinery.

A modest Mr Armstead, who was initially reluctant to publicise handing out a total of £7,500 to his workforce – from his own pocket – said he was keen to reward staff for their dedication.

He added: “We’ve had the best year in a long time – for more than a decade – and the best year since I have been here. We’ve made a lot of investment and changes and that has put people under pressure.

“It’s been an exceptional year and I wanted to do something to thank everyone for what’s been an incredibly busy year.”

In the Christmas cards he gave to staff, containing the £50 notes, Mr Armstead wrote: “By most measures 2012 has been the most fantastic year for Wax Lyrical Ltd.

“We have invested over £1m in the factory and new IT systems.

“In an incredibly tough year we have grown sales and held margins.

“We have managed to get through the year without borrowing a penny from the bank, despite the £1m investment.

“The combination of growth plus investment has meant that most people have had to work that bit harder.